Backus, Davis & Co. v. Minor

Citations

• 3 Cal. 231

Syllabus

<p>Upon a money demand bearing interest, on which payments have been made after maturity, the proper method of computing interest is stated by Chancellor Kent, in Connecticut v. Jackson, 1 Johns. Ch. Rep. Í3.</p> <p>But where an account has been stated by the plaintiff, charging interest both on the debt and the payments, and rendered to the defendant, and no objection made thereto, within a reasonable time, it is the same as an agreement that the interest should be computed accordingly.</p> <p>When the dealings of the parties extended through a period of more than two years, during which time several accounts were rendered by plaintiffs to defendant, and the same mode of computing interest was pursued throughout, this mode was held to be binding upon them.</p>